35 comments on Robert F. Kennedy on Defining GDP and Some Other Thoughts
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35 comments on Robert F. Kennedy on Defining GDP and Some Other Thoughts
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The ecological economists worked this GNP/GDP fallacy out many years ago. They are still trying to get a hearing.
Costanza, et al, (1997). An Introduction to Ecological Economics, ISBN: 1-884015-72-7
This book would be a good place to start for anyone who wants to understand what is wrong with neoclassical econ, what a holistic econ might look like, and why we continually screw up on the environmental front.
Importantly, it provides a guide to understanding energy's role in the economy. The book was written before the notion of peak oil hit the street. So one needs to couple the ideas in this book with the new realization that we have to look forward to a world in which energy production is in retreat. The latter, of course, is a result of squandering our FF-based energy endowment on toys and fun and big houses instead of investing in renewable energy capture capital equipment.
Take these ideas and then factor in peak oil and human nature. You get a very dismal picture.
Question Everything
George
This is a struggle for power, not an academic debate about economic methodologies. It is difficult for ecological economists get a fair hearing when power sits with their opponents; it is not an equal fight. The neoclassical economists (led by the Chicago School cult) are so influential because of their usefulness for propaganda justifications of neocon policy. The neocons (really better described as the corporate elite) will do their best to not allow a political candidate with economic views harmful to their interests to become President either at home or abroad. Until now the fight has been against Keynesian economics and public ownership, where the US neocons used their persuaders (the CIA) to get their way (via military coups and genocides in South America, or other actions closer to home, see: CIA Agents killed Robert Kennedy - http://www.youtube.com/watch?v=q0eh0hRlfCU&feature=related ). Expect similar actions if ecological economics becomes a serious political threat. The Iron Triangle has more than three sides.